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2021 (7) TMI 721 - AT - Income TaxPenalty levied u/s. 271(1)(c) or 271(1)(b) - CIT(A) while deleting the penalty has given a finding that the notice issued for levy of penalty had not specified the Section for which the penalty was levied as to whether it was u/s. 271(1)(c) or 271(1)(b) of the Act? - HELD THAT:- We find that CIT(A) while deleting the penalty has given a finding that the notice issued for levy of penalty had not specified the Section for which the penalty was levied as to whether it was u/s. 271(1)(c) or 271(1)(b). As also given a finding that the notice issued was silent as to whether it was for concealment of particulars of income or was for furnishing inaccurate particulars of income. He has further given a finding that in the penalty order AO had initiated penalty for furnishing of inaccurate particulars of income but in the penalty order it was for concealment of income. The penalty imposed suffered from legal flaws and thus the imposition of penalty was untenable and thus deleted the penalty levied by AO. We for the reasons stated hereinabove while dismissing the appeal of the Revenue for A.Y. 2006-07 and for similar reasons dismiss the appeal of Revenue for A.Y. 2007-08 also. Thus appeal of Revenue is dismissed.
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